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EU to Ban Bitcoin Mining? Energy Use Too High!



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In the aftermath of the vote to Ban Bitcoin mining in the European Union, I thought it would be important to discuss Bitcoin's energy use. Many claims have been made about its energy usage some true, most completely false. These claims are being made to convince regulators and policy makers that Proof-of-Work (PoW) mining is bad for the environment.

I will cover three main points:
- Expensive and energy-intensive transactions
- Bitcoin uses too much energy
- Bitcoin using dirty energy

It is important that we move to clean and renewable energy sources in the world and Bitcoin mining is going to get us there. Wind, solar, and hydro all have a part to play and Bitcoin Mining will incentive more clean and abundant energy so we can build a better future.


Thank you as always and I will see you on the other side!

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SHOW NOTES:
- https://bitcoinminingcouncil.com/
- https://dailyhodl.com/2021/10/12/bitcoins-lightning-network-to-process-364-trillion-transactions-per-year-according-to-arcane-research-heres-the-timeline/
- https://www.coindesk.com/business/2021/08/18/how-much-energy-does-bitcoin-use/#:~:text=Bitcoin%20uses%20less%20than%20half,consumes%2C%20according%20to%20recent%20data.&text=As%20new%20miners%20join%20the,too%20does%20its%20energy%20usage.
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Host: Dennis Porter
- Twitter: https://twitter.com/dennis_porter_?s=21
- Articles: https://bitcoinmagazine.com/authors/d...
- Website: SingleIssueVoter.com

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As a side note, this podcast is not financial advice. Any opinions expressed by the Host and the Guest are strictly for educational and entertainment purposes only and should be viewed as such. This is the first of many episodes and we’re aware we have a lot of room to grow. Feedback is appreciated and we will do our best to evolve with our listeners.

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Category
Cryptocurrency Mining
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